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The pros and cons of the Lifehealthcare IPO

In the Press | Comments (4)

The pros and cons of the Lifehealthcare IPO

In this article, published in the Australian Financial Review, Russell Muldoon gives Montgomery’s view on the Lifehealthcare IPO. Read here.

This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.

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4 Comments

  1. Luke Joseph
    :

    Russell, does Montgomery still follow or hold LHC if you don’t mind me asking?

    I notice ROE has been declining.

  2. chris britton
    :

    Hi Russell

    Have been following LHC since float and picked up a small holding when price dipped meaningfully below issue price.

    Since listing, company has not done nothing wrong, has delivered on prospectus forecasts, and the risks around sales has not yet eventuated. Outlook appears good for 2015.

    Do you mind if I ask if Montgomery are still holders or if view has changed?

    • Russell Muldoon
      :

      Hi Chris, not much has changed – we do note that acquisitions have been few and far between (not an issue, however they stated at IPO they were looking a number of opportunities). Management have preferred to invest meaningfully in organic growth (products and sales force) and we look forward to those investments delivering a return in due-course. The biggest risk for any importer is at their COGS line (cost of goods sold) – they can be highly sensitive to movements in exchange rates. This is worth considering.

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